Free Zone users require another type of measures on top of the proposals the government has discussed in the Assembly, such as reducing the charges for renting.
The bill that was discussed in Congress and which seeks to increase the competitiveness of the Colon Free Zone (CFZ), (already approved in the first debate) is not enough for entrepreneurs. Marco Tellez, president of the Association of Users (AU), told Prensa.com that "... users recognize the efforts of the Government in the proposal already presented, but they are not enough. We do not want companies to make money, we want to stay. "
In response to requests from the private sector, approval has been given to the creation of the Ministry for Competitiveness and Logistics, a dependency of the Ministry of the Presidency.
The main function of the new Secretariat will be to coordinate and propose, together with other public institutions, solutions for improving issues related to the economy logistics and competitiveness policy. The coordinator of this new entity is Ana Margarita Reyes who previously worked for the Panama Canal Authority.
Employers from the logistics sector support the government's decision to create an entity focused on the development of the sector, but are complaining about the lack of their participation in it.
Although it was the very same logistics sector that suggested to the government there was a need to create an institution or Secretariat to delineate strategies for the industry, employers are complaining that the government has not involved them in the issue.
Negotiations are being promoted with the US chain for the installation of a distribution center for Latin America in the Colon Free Zone.
Panama reserves supermarket operations for local companies, so there could be confusion over the news report from Prensa.com, which states that "... Through a letter signed by Panamanian President Juan Carlos Varela, a group of businessmen, headed by the general manager of the Colon Free Zone (CFZ), Surse Pierpoint- are seeking to attract the attention of executives at Walmart US to install a distribution center for Latin America in Panama ", indicating the Colon Free Zone (CFZ) as 'the right place'."
The business sector is proposing the creation of a government entity focusing on the long term development of logistics activities in the country.
Adopting logistics as a matter of state and implementing a long term national logistics strategy that takes into account all of the productive sectors involved is the proposal of the business sector to the incoming government.
Businessmen in the CFZ expect that the break in relations between the countries will further hinder the recovery of $2 billion owed by Venezuelan companies.
On Wednesday, Venezuelan President Nicolas Maduro announced the severance of diplomatic relations with Panama," freezing "all further trade and economic relations with the Central American nation. The situation worries employers in the Colon Free Zone (CFZ), who see even more difficulty in recovering the $2 billion owed by Venezuelan companies.
Colombia's government is studying the possibility of applying a reduction to the fees charged for goods coming from the Colon Free Zone.
According to Ricardo Quijano, Minister of Commerce and Industry of Panama, this relief is an option being proposed by Colombia during the meeting held in recent days with his Colombian counterpart, Sergio Diaz-Granados, in the city of Bogota, in order to seek an early resolution to this situation which affects the Colon Free Zone (CFZ).
Users of the Colon Free Zone in Panama are no longer required to purchase the lot which they currently lease and if they choose to continue renting the amount charged in the first five years can not exceed 10% per year of what they currently pay.
At the end of the first five years, rents can be updated every two years according to the consumer price index, indicated the Zone's Users Association (AU in Spanish).
The next round of negotiations for the Free Trade Agreement (FTA) between both nations is scheduled for 13 September in Bogota.
The subjects pending for the fourth round are: "rules of origin, institutional issues, administration and facilitation of trade, financial services, public and plant health measures, trade and market access, intellectual property, investment and public procurement," reports Elsalvador.com.
The country aims to compete with countries like Puerto Rico, Colombia and Mexico as a destination for international productions.
Starting this Monday June 8, Law 36 from 2007 goes into effect, which creates an official registry of areas designed to develop the film industry and the single window for investment processing in that branch so that permits can be handled in an expeditious manner to permit the use of locationas, facilities, visas and everything needed for the completion of the work," according to what was published in Prensa.com.
The purpose of the law which creates the eurocertificates (eurobonds) is to compensate the loss of preferential tariffs with the European Union.
Prensa.com reports: The eurocertificates will function as tax bond certificates (CAT) as they will be used to pay taxes, and they can also be used to carry out the transfers that currently take place in the market. For example, this will allow exporters to use them to get financing from banks.
San Miguel Industrial Park is the only park that owns a construction and consulting company. We offer the Free Zone location with the perfect building to suit your manufacturing needs. Our flexible layouts allow an easy future growth. Because of this fact we can offer exactly what our clients need at a very competitive price. Clients can own a building or they can enter a lease agreement. Because of this flexibility many world known companies have chosen to work with us. We are licensed to build in Honduras providing the best free zone laws in the industry maximizing profitability.
Operates in Honduras and Honduras
Phone: (504) 2556-7373 - (504) 94510322
ATS El Salvador is a Customs Agency with 26 years of providing services for imports, exports, transits, consultancies and international transport.
Operates in El Salvador
Phone: (503) 2235 6522 - (503) 2235 6524